I'm curious... looking at the FR24 posted by Satco, the aircraft arrives overhead Culdrose at roughly 7000, and then carries out a wide circuit down past Mullion, over Goonhilly and back out over Falmouth Bay steadily losing height - even allowing for FR24 position errors that looks to me as though the Hawk may have been returning to base, positioning for a RIAB or landing, and the engine failure occurred much later in the sequence, down wind of the runway.
If it had happened at 14000' over Falmouth, wouldn't they have arrived over Culdrose and kept very tight to the airfield, with an eye on dropping it in Mounts Bay if necessary? Falmouth Bay in my experience usually has shipping at anchor awaiting quay space.